Gold Caught Between Yield Pressure and Geopolitical Support
Gold prices are being pulled in two directions, caught between rising yield pressures and geopolitical support. At $4,140, gold is struggling to take back its four-hour average and resistance at $4,171. The immediate support zone sits at $4,103 to $4,114, matching the daily lower Bollinger Band.
Rising U.S. 10-year Treasury yields have made gold less attractive, as it pays no income, pushing the price down. However, soft jobs data and geopolitical tensions are providing some support for gold, keeping its price from falling further.
The next major test for gold will come in the form of hot inflation, which could push yields higher and put $4,103 support to the test. On the other hand, cooler inflation could allow gold to aim for resistance at $4,171 to $4,191.